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  • FIRST POST
    • creditscoremeansnothing
    • By creditscoremeansnothing 4th Jan 18, 3:38 PM
    • 32Posts
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    creditscoremeansnothing
    Vendor dragging their feet!
    • #1
    • 4th Jan 18, 3:38 PM
    Vendor dragging their feet! 4th Jan 18 at 3:38 PM
    Hi All
    I am Buying a housetop let out and am getting sick of the vendors dragging their feet with everything they do. My solicitors are very quick and sent off Additional enquiries on the 4th December. As of Xmas close down they still had not received them back and their solicitors said they are still waiting for them to respond. I called the EA and they started to chase also.

    Sols reopened 2nd Jan and I called to say that if they are not back with their enquiries by Friday I would pull out. They have now come back yesterday but according to my sol they are very sloppy replies and we need clarification on 4 issues, so the whole process starts again and I am sure they will continue to drag their feet. As a premptive measure I called the EA to advise them to hurry up with these other queries as I'm keen to exchange and complete as I have builder standing by to start work. They advised me that the vendors would like to ask "for a bit of time" between exchange and completion to move on, I think they are moving in with family.

    My main question is if we exchange and set a completion date for lets say 1 week later what will happen if they say they still need more time, have I lost my bargaining power in the fact that I can't pull out of the sale then or at least threaten to or is the completion date set in stone when you exchange.
Page 1
    • Slithery
    • By Slithery 4th Jan 18, 3:44 PM
    • 514 Posts
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    Slithery
    • #2
    • 4th Jan 18, 3:44 PM
    • #2
    • 4th Jan 18, 3:44 PM
    or is the completion date set in stone when you exchange.
    Originally posted by creditscoremeansnothing
    Correct.

    If you exchange and then your vendors fail to complete on the specified date then they are liable for all costs you incur - hotels, food, storage, etc.
    • giraffe69
    • By giraffe69 4th Jan 18, 3:45 PM
    • 2,247 Posts
    • 1,965 Thanks
    giraffe69
    • #3
    • 4th Jan 18, 3:45 PM
    • #3
    • 4th Jan 18, 3:45 PM
    When you exchange you set a completion date which is mutually agreed. Failing to complete is an expensive business and for that reason rare.
    • creditscoremeansnothing
    • By creditscoremeansnothing 4th Jan 18, 5:32 PM
    • 32 Posts
    • 17 Thanks
    creditscoremeansnothing
    • #4
    • 4th Jan 18, 5:32 PM
    • #4
    • 4th Jan 18, 5:32 PM
    Thanks for the replies, at least thats one thing. I have a feeling when we try to agree a completion date i will be asking for 1 week and they will want 4 weeks... or longer.
    • glentoran99
    • By glentoran99 4th Jan 18, 5:41 PM
    • 4,996 Posts
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    glentoran99
    • #5
    • 4th Jan 18, 5:41 PM
    • #5
    • 4th Jan 18, 5:41 PM
    If I was selling to you I would pull out on principal, Its harder to plan moving out, and especially over Christmas, when solicitors are closed etc 4 weeks is no time at all in buying/selling a house and you putting pressure on them wont speed anything up
    • Slithery
    • By Slithery 4th Jan 18, 5:45 PM
    • 514 Posts
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    Slithery
    • #6
    • 4th Jan 18, 5:45 PM
    • #6
    • 4th Jan 18, 5:45 PM
    @glentoran99

    Where did you get the idea that the purchase has only been going on for 4 weeks?
    Last edited by Slithery; 04-01-2018 at 5:47 PM.
    • glentoran99
    • By glentoran99 4th Jan 18, 5:49 PM
    • 4,996 Posts
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    glentoran99
    • #7
    • 4th Jan 18, 5:49 PM
    • #7
    • 4th Jan 18, 5:49 PM
    @glentoran99

    Where did you get the idea that the purchase has only been going on for 4 weeks?
    Originally posted by Slithery


    I didn't say the whole purchase had been going on 4 weeks, just that 4 weeks is no time at all especially over Christmas, but the OP only had mortgage approved on 20/11 so its not that much further on to be getting pre contract enquires back
    Last edited by glentoran99; 04-01-2018 at 5:57 PM.
    • Alfrescodave
    • By Alfrescodave 5th Jan 18, 10:09 AM
    • 533 Posts
    • 278 Thanks
    Alfrescodave
    • #8
    • 5th Jan 18, 10:09 AM
    • #8
    • 5th Jan 18, 10:09 AM
    Thanks for the replies, at least thats one thing. I have a feeling when we try to agree a completion date i will be asking for 1 week and they will want 4 weeks... or longer.
    Originally posted by creditscoremeansnothing
    Might be advisable to make it known NOW that your requirement is that completion will be one week after exchange. Only discussion then should be what is an acceptable exchange date for both parties
    • martindow
    • By martindow 5th Jan 18, 11:29 AM
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    martindow
    • #9
    • 5th Jan 18, 11:29 AM
    • #9
    • 5th Jan 18, 11:29 AM
    Why is it so important that there should be exactly one week between exchange and completion? Chains often collapse if one side or the other sets deadlines or is inflexible.
    • aneary
    • By aneary 5th Jan 18, 11:35 AM
    • 869 Posts
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    aneary
    Why is it so important that there should be exactly one week between exchange and completion? Chains often collapse if one side or the other sets deadlines or is inflexible.
    Originally posted by martindow
    The OP has a builder standing by.
    • shortcrust
    • By shortcrust 5th Jan 18, 11:46 AM
    • 1,509 Posts
    • 1,974 Thanks
    shortcrust
    If I was selling to you I would pull out on principal, Its harder to plan moving out, and especially over Christmas, when solicitors are closed etc 4 weeks is no time at all in buying/selling a house and you putting pressure on them wont speed anything up
    Originally posted by glentoran99
    If I'd had other offers or wasn't in a rush to sell I'd probably do the same. There'd certainly be zero goodwill left.
    • shortcrust
    • By shortcrust 5th Jan 18, 11:58 AM
    • 1,509 Posts
    • 1,974 Thanks
    shortcrust
    The OP has a builder standing by.
    Originally posted by aneary
    No they don't. That's just to tart up their threats.

    What on earth does 'a builder standing by' mean? Are they keeping a chunk of diary open for a job on a property that may or may not complete at some unspecified future time?

    I'm a cross on the vendor's behalf.
    Last edited by shortcrust; 05-01-2018 at 12:01 PM.
    • aneary
    • By aneary 5th Jan 18, 12:00 PM
    • 869 Posts
    • 792 Thanks
    aneary
    No they don't. That's just to tart up their threats.
    Originally posted by shortcrust
    I know that I'm just saying what his 'reason' was!!
    • EmmyLou30
    • By EmmyLou30 5th Jan 18, 12:14 PM
    • 356 Posts
    • 420 Thanks
    EmmyLou30
    People seem to be saying they think 4 weeks isn't a long period of time to be expecting replies to enquiries....I would argue that's a bl00dy long time with some very slack vendors and I'd be peed off too! It's your own house you're answering questions about, how hard can that be!?

    When I was going through the process I responded to everything that arrived in the post either that very same day or the following day. No reason for delay. Possibly why one house purchase completed in about 5 weeks and the other one in about 6 (first with a chain, second time no chain). But it relies on everyone being super on the ball with responding to solicitors requests and I got lucky both times the vendors were as keen to exchange as I was so we all got on with it.
    • glentoran99
    • By glentoran99 5th Jan 18, 3:50 PM
    • 4,996 Posts
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    glentoran99
    People seem to be saying they think 4 weeks isn't a long period of time to be expecting replies to enquiries....I would argue that's a bl00dy long time with some very slack vendors and I'd be peed off too! It's your own house you're answering questions about, how hard can that be!?

    When I was going through the process I responded to everything that arrived in the post either that very same day or the following day. No reason for delay. Possibly why one house purchase completed in about 5 weeks and the other one in about 6 (first with a chain, second time no chain). But it relies on everyone being super on the ball with responding to solicitors requests and I got lucky both times the vendors were as keen to exchange as I was so we all got on with it.
    Originally posted by EmmyLou30


    1) you don't know the questions may have required investigations to answer
    2) weeks over holiday period is not a long time, not to mention additional postage times,
    • EmmyLou30
    • By EmmyLou30 5th Jan 18, 5:31 PM
    • 356 Posts
    • 420 Thanks
    EmmyLou30
    1) you don't know the questions may have required investigations to answer
    2) weeks over holiday period is not a long time, not to mention additional postage times,
    Originally posted by glentoran99
    That's very true, but in a perfect world the vendors would have had everything in order before they marketed - they must know the sort of questions that get asked as they asked them themselves when they bought the house.

    I think the OP said said this was the 4 weeks before the Christmas holidays? As yes, I'd wipe off a week there for all the bank holidays as well as nothing will happen then.
    • Thrugelmir
    • By Thrugelmir 5th Jan 18, 5:38 PM
    • 56,767 Posts
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    Thrugelmir
    That's very true, but in a perfect world the vendors would have had everything in order before they marketed - they must know the sort of questions that get asked as they asked them themselves when they bought the house.
    Originally posted by EmmyLou30
    And what of the vendors own transaction the onward purchase? Perhaps the mortgage application is still being processed, that's if they've found a house to move to yet.......

    Vendors won't incur any legal costs until there's certainty.
    “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
    ― Warren Buffett
    • creditscoremeansnothing
    • By creditscoremeansnothing 5th Jan 18, 5:57 PM
    • 32 Posts
    • 17 Thanks
    creditscoremeansnothing
    Thanks to the majority of people for their helpful replies....

    Who said 4 weeks.... i never.

    I offered on the house on the 20th October and the vendors where keen to sell as it failed to sell the previous week at auction. If it did sell at auction they would only have had 28 days so i fail to see how im being unreasonable. When i offered we agreed we both would like it done for xmas and thought this was reasonable as there is no chain, they are moving in with family to raise more funds for a deposit on new home and at the time couldn't be nice enough to me considering it failed to sell previously.

    Initially i was to purchase the property outright as it is not very expensive (in housing terms) so i instructed solicitors early November. I then decided to arrange a small mortgage on the property if it could be done quick enough and it was (as per my other post), so no hold ups.

    My Sols got the initial paperwork and started searches and it was on the 4th Dec they had a few enquiries, so the 4 weeks is not to purchase the house but the amount of time it has taken the vendors to reply with the queries which i think is too long. When i arranged the survey i got a call saying the vendors can't let them in for 2 weeks.

    I asked the vendors could i send a builder around the house to see what he needs late November and to quote me for it, we agreed a price and agreed he could "possibly" start early Jan as we both wanted it completed by Xmas, the builder is a family friend and it is his least busy time in Jan so I do have him on stand by to start but agree that even if i didn't i would still say this.

    This time scale seems a long time for a no chain house purchase especially when at first they was as keen as me to complete by Xmas and where prepared to sell for a quick auction sale.
    • Thrugelmir
    • By Thrugelmir 5th Jan 18, 6:47 PM
    • 56,767 Posts
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    Thrugelmir
    Why was the property being sold through an auction house? Sounds as if there's added complexities to this tale.
    “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
    ― Warren Buffett
    • creditscoremeansnothing
    • By creditscoremeansnothing 5th Jan 18, 7:58 PM
    • 32 Posts
    • 17 Thanks
    creditscoremeansnothing
    They apparently "wanted a quick sale", which is what i have been trying to achieve also, i missed the auction due to a family emergency and so was quite pleased it didn't sell.

    Its nothing special and needs a bit of work but its what i was looking for really and is very local to me.
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